Banks in a country (Zimbabwe), that has been battling with cash shortages since 2016, have announced a $50 withdrawal limit per day as cash shortage increases in the country.
Authorities had blamed the externalization of foreign currency, hoarding
and other illicit financial outflows.
Banks like CABS, ZB, National Building Society and
Standard Chartered had reverted to giving $50 per day in either bond
notes or United States dollars while some had run out of cash, forcing
depositors to spend hours in queues, Zim News report.
"They did not
have enough money hence they were forced to implement limits on
withdrawals to ensure that they remain in business," according to
CABS official who confirmed the $50 withdrawal limit.
However, Met Bank is said to be the only bank giving $300 weekly withdrawals to customers.
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